PUBLISHER: The Business Research Company | PRODUCT CODE: 1657232
PUBLISHER: The Business Research Company | PRODUCT CODE: 1657232
AI (Artificial Intelligence) training datasets are a foundational element in the development and refinement of artificial intelligence systems. These datasets consist of structured or unstructured data specifically curated and prepared for training machine learning models.
The AI training datasets market consists of revenues earned by entities (organizations, sole traders and partnerships) by providing AI training datasets, that are utilized by organizations and researchers to enable machines to learn patterns, make predictions and perform various tasks across industries. The data within these datasets can take various forms, including text, images, audio and video, depending on the type of AI application being developed.
The global AI training dataset market was valued at $973.24 million in 2019 which grew till 2024 at a compound annual growth rate (CAGR) of more than 21.00%.
Increased Investment In AI Research And Development
The increased investment in AI research and development supported the growth of the AI training dataset market during the historic period. As AI research advances, the demand for large, high-quality and diverse datasets continues to grow. These datasets are essential for enhancing the performance and generalization capabilities of machine learning models. With increased investment in AI R&D, there is a rising need for comprehensive datasets, as new models require extensive data to operate effectively in real-world applications. For instance, in May 2023, according to a report by the Global Times, a China-based media organization, the Chinese government announced plans to establish AI industrial hubs and tech platforms nationwide to foster research and development. Development initiatives have been launched for 18 national AI pilot areas and 32 innovation platforms, including locations in Beijing and Tianjin, aimed at accelerating AI advancements and supporting the country's technological growth in this field. Additionally, in March 2023, the European Union (EU), a Belgium-based supranational political and economic union, announced an investment of €180 million ($192.9 million) in groundbreaking digital technologies through its Horizon Europe Program. This initiative prioritizes collaborative research and development, focusing on key technologies like artificial intelligence, robotics and new materials. These projects aim to deploy cutting-edge technologies effectively with a balanced mix of participants from academia, research organizations and industry, including small and midsize enterprises (SMEs). Six projects, with a budget of €20 million ($21.4 million), will specifically advance European AI and robotics in industry. Therefore, the increased investment in AI research and development drove the growth of the AI training dataset market.
The Role Of Technology Platforms In AI Dataset Optimization
Major companies operating in the AI training dataset market are focusing on developing innovative technology platforms to enhance the quality, diversity and scalability of datasets. Technology platforms are software solutions, tools, or systems designed to facilitate the creation, management and optimization of AI training datasets. These platforms leverage advanced technologies to streamline key processes such as data collection, preprocessing, labeling, augmentation and customization, ensuring greater efficiency and accuracy in dataset development. For instance, in April 2024, TELUS International (CDA) Inc., a Canada-based company that provides customer experience (CX) and digital solutions, launched Fine-Tune Studio. Fine-Tune Studio is an innovative platform designed to generate high-quality datasets tailored for fine-tuning large language models (LLMs) and generative AI (GenAI) technologies. Its primary goal is to improve the performance, adaptability and safety of AI models, which is increasingly vital as AI becomes more integrated into everyday life and business operations. The platform supports dataset creation in over 100 languages and accommodates a wide range of data types, including text, audio, images and video.
The global AI training dataset market is fairly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up 23.3% of the total market in 2023.
AI Training Dataset Global Market Opportunities And Strategies To 2034 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global AI training dataset market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for AI training dataset? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The AI training dataset market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider AI training dataset market; and compares it with other markets.